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Mandatory swaps trading. The CFTC discussed the steps it has taken to promote trading on swap execution facilities and assist in the transition to mandatory swaps trading, which began on February 15, 2014, for certain interest rate swaps. (2/10/2014) CFTC press release.

Financial reporting requirements. Guidance has been provided by the Division of Swap Dealer and Intermediary Oversight to futures commission merchants and derivatives clearing organizations on the procedures for submitting acknowledgment letters for accounts holding customer funds and on other financial reporting requirements. (2/5/2014) CFTC press release.

Australian firm receives relief from DCO registration requirement. For a limited time, the Division of Clearing and Risk will not recommend enforcement action against the Australian-based clearing organization, ASX Clear (Futures) Pty Limited for failing to register as a derivatives clearing organization. (2/6/2014) CFTC press release.

Other Developments

Amendment to DCO registration rule proposed. Comments are sought on the petition from LCH.Clearnet Ltd for an amendment to and consolidation of its orders of registration as a derivatives clearing organization. Comments should be submitted by February 26, 2014. (2/11/2014) CFTC press release.